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Swede Atlanta

(3,596 posts)
18. Absolutely not.......
Fri Nov 8, 2013, 08:59 PM
Nov 2013

I am not about limiting the amount of money an individual can earn in a year. Innovation, investment, etc. needs to be rewarded and in our society that is recognized in the form of money earned.

That said, we can have increasingly progressive taxes which take into account that (a) we are a society where we have a moral obligation to the society in general and (b) we are not "self-made", i.e. whether one attends a private school or not, our society creates an environment in which success may be achieved from roads, educated workforce, market economy, legal protections, etc.

So taxing income at a much higher level about a certain amount - I would suggest anything over $5M, and/or providing benefits in the form of tax deductions for contributions to programs that benefit society (non-religious) such as schools, research institutions, etc. is the right way for those high earners to share with the society that helps make their wealth possible, a reasonable portion of their income.

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